3,255 Shares in EPAM Systems, Inc. (NYSE:EPAM) Purchased by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC acquired a new stake in EPAM Systems, buying 3,255 shares valued at approximately $550,000 during the 1st quarter of the year.
• EPAM Systems reported $2.41 earnings per share (EPS) for the last quarter, exceeding the consensus estimate of $2.27.
• The stock has a consensus rating of "Moderate Buy" with an average target price of about $231.73 among analysts.

Blueshift Asset Management LLC purchased a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,255 shares of the information technology services provider's stock, valued at approximately $550,000.

Several other hedge funds have also bought and sold shares of EPAM. Brighton Jones LLC bought a new stake in EPAM Systems in the 4th quarter valued at $218,000. American Century Companies Inc. grew its stake in EPAM Systems by 35.8% during the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock worth $4,816,000 after buying an additional 5,435 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of EPAM Systems by 31.6% during the fourth quarter. LPL Financial LLC now owns 32,107 shares of the information technology services provider's stock worth $7,507,000 after purchasing an additional 7,711 shares during the period. Pictet Asset Management Holding SA boosted its holdings in EPAM Systems by 4.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 27,643 shares of the information technology services provider's stock worth $6,463,000 after buying an additional 1,185 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in EPAM Systems during the 4th quarter worth approximately $1,382,000. Institutional investors own 91.58% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EPAM shares. Susquehanna cut their target price on EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Barclays raised their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Needham & Company LLC increased their price target on EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 9th. Stifel Nicolaus dropped their price objective on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research report on Thursday, July 17th. They set a "hold" rating and a $171.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $231.73.

EPAM Systems Stock Up 1.5%

Shares of NYSE EPAM traded up $2.21 on Monday, reaching $153.20. 803,987 shares of the company's stock traded hands, compared to its average volume of 573,691. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.25 and a beta of 1.67. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The business's 50 day simple moving average is $172.04 and its two-hundred day simple moving average is $186.71.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.14. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The firm had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The business's revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.